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Oil is solidly over $37 overnight. We will have to wait until Monday to see if if this a significant break upwards after a period around $35. If it consolidates or continues to rise in combination with a hopefully good RNS next week then we may see 6p again

have been posted in May for the last three years. They therefore should be out this week, possibly together with an update.

I think we have assume oligarch psychology here. They want a large strong company with a good dividend flow preferably offshore, but haven't got the cash to get it really moving fast. They see the deeps as the big prize, so they have used MJF as a cash cow and reinvested in speculative deep wells but sometimes rather on the cheap (until recently).

With the wisdom of hindsight we can see this strategy hasn't worked, and now the covid drop in the oil price has come at just the wrong time when they needed cashflow to sort the deep wells out. They can keep things going with slow MJF expansion and some remedial work on the deeps that they have already drilled. They are now dependent on a recovery in oil prices to get things moving again.

If the existing deep wells can't be made to work, then they haven't the cash for a new deep well, so the cheaper MJF wells are likely to be their only mid-term strategy. As CC said in his post, they probably should have gone for this in the first place, and it may be that this year they are forced into this path by events.

I think the main players are not interested in selling shares unless they have to and they are in it for the long term dividends.

Hi CC, I have never objected to your very helpful share tips to people on this board. I did make a remark the other day when the CASP board seemed to have turned in to an auxiliary TILS board. I have occasionally made of off topic tips on other boards, myself.

I expect you noticed the positivity thing was a bit tongue in cheek as was JR's original posting. What we really need is balance. Sometimes the discussion swings between wild optimism to black despair witth no real reason for the change.

At present what we have is some successful development of the MJF field which looks set to continue, but perhaps at a slower pace than before covid19, and a considerable slowdown on the deeps development, also due to covid19. Having checked it out I agree that Yelemes is of little consequence. Meanwhile the oil price is showing a solid return to more commercial (for CASP) levels and may well shift up further over the summer and into the winter.

My own feeling about this share at the moment is a mixture of cautious optimism and frustration with the poor communications. Its not going to set the world on fire any time soon, but I am expecting steady progress over the next few months.

And that applies to you too CC. More positivity please. After all it is Thursday tomorrow! I am expecting good production figures for May which should be announced in a couple of weeks. In the case of the deeps we need some rather more sensible positivity, so I am expecting a little progress on A5 by the end of June and the delivery of acid to the other wells.

Onwards and upwards!

I apologise JR. I will try and be more positive tomorrow.

I don't think its either/or adrianz. They need to sort out the website and the production issues. Fortunately I believe they do seem to be finally sorting out the MJF. Yelemes I must admit I know less about. The deeps may or may not be sorted as we all know. But at least get the website up to date so any new investor can see what is going on here without having to be informed about it all by the LTHs.

The price of oil is rising nicely again this morning, and the oil sector as a whole is enjoying an upturn. It sometimes takes a little time for this to filter down to CASP, but when it does we often rise further than the rest.

On the website, it is truly terrible and the management should be thoroughly embarrassed.

Stay elite; f***k the virus; look after number one.

I do not celebrate but thanks for your good wishes, and I am sure all on here wish you the same, particularly because of the difficulties of celebrating this year under lockdown.

https://uk.reuters.com/article/us-health-coronavirus-kazakhstan-tengiz/kazakhstan-may-have-to-halt-tengiz-oilfield-over-coronavirus-doctor-idUSKBN22W1MI

If output has to be cut back in Tengiz, Kazakhstan may be more relaxed about extending licences eslewhere

Have all the off CASP comments finished now? Off you go now to the right place, TILS we meet again some sunny day.

Meanwhile the POO is down a couple of dollars, so I am expecting CASP to go up

As usual with CASP we are wating for news, because without that the seller(s) depress the price. Having said that, this is a our second day in a row of strong growth, and a day when the sector as a whole has not grown. I think we are still attracting too many traders (nothing against you guys) and not enough LTHs.

An RNS should be due in the first or second week of June and should have at least some good news in it, so I am hoping for a modestly good summer and perhaps a very good autumn.

Three questions mixed in there CC Can he provide liquidity, will he provide liquidity and does he need to provide liquidity. I think the answer to the first two is probably yes and to the last one is probably yes in the short term but not in the medium term once MJF expands and Yelemes is back on tap. The outside possibility of a deep would of course change all that for the better.

The reasons for holding CASP are the same as they were before the virus, but obviously at a lower sp because of the oil price. There are also a lot of reasons for not holding including the apalling communications and the overhyping of the deeps which then disappoint. I am still holding because of the successes in the MJF structure, the improved chances of cracking the deeps with more sophisticated approaches, the Yelemes licence upgrade and the current recovery in the oil price. Like others here, I have lost money, but expect to make a reasonable amount of it back again. Good luck to those diversifying out of CASP.

CC, if they are filling forward orders this month then they may have to sell spot next month. If this is what is happeneing there may be a few short term cashflow issues. If the oil market continues its current recovery, perhaps they can sell spot and forward next month to resolve this.

Thanks for the info Richy. Fair comments CC. Joe Soap is probably right about the forward selling, but I agree it is not possible to be absolutely certain. Perhaps Clive could be a little more explicit on this subject when the Yelemes licence uptate RNS comes out.

Thanks for the info Richy. Fair comments CC. Joe Soap is probably right about the forward selling, but I agree it is not possible to be absolutely certain. Perhaps Clive could be a little more explicit on this subject when the Yelemes licence uptate RNS comes out.

Anyone got a clue why oil is so strong this morning -Brent up 4% already. Other oilies are on the rise but everything is quiet here. I have a feeling that if investors knew that we were selling oil as well as producing it, then this would fly. Yelemes licence update would also help

I thought not, so that part of Ladykaz's post does not apply to CASP. From other links that Richy has posted, I still think we are not subject to cuts. Expansion may be another issue in the short term.

Does CASP have a PSA?